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READ THIS QUESTION VERY CAREFULLY & THE ANSWER NEED TO BE UNDERSTANDING

6.25 points World Company expects to operate at 80% of its productive capacity of 50,000 units per month. At this planned level, the company expects to use 25,000 standard hours of direct labor. Overhead is allocated to products using a predetermined standard rate based on direct labor hours. At the 80% capacity level, the total budgeted cost includes $50,000 fixed overhead cost and $275,000 variable overhead cost. In the current month, the company incurred $305,000 actual overhead and 22,000 actual labor hours while producing 35,000 units. (Do not round your intermediate calculations.) (1) Compute the overhead application rate for total overhead. Predetermined OH Rate Variable overhead costs Fixed overhead costs Total overhead costs (2) Compute the total overhead variance Standard DL Hours Actual Production 35,000 units Overhead Costs Actual Results Variance Applied Fav./Unf. Variable overhead costs Fixed overhead costs Total overhead costs 6.25 points Comp Wiz sells computers. During May 2015, it sold 350 computers at a $1,200 average price each. The May 2015 fixed budget included sales of 365 computers at an average price of $1,100 each (1) Compute the sales price variance and the sales volume variance for May 2015 Actual Sales Flexible Budget